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Netflix to open branded retail stores for some reason
(www.engadget.com)
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this post was submitted on 13 Oct 2023
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No. Merch has direct profit that has a much larger margin than streaming. It's just a new cash flow for them. Same reason patreon was offering merch and discord too.
You have an asset in land and physical goods to sell for money. It's not complicated why they are pivoting to it.
The lesson of star wars was that merch is both profitable and is functionally marketing. It also might get around some of their contracts.
It's probably both